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  • Profile photo of Dreamer1Dreamer1
    Member
    @dreamer1
    Join Date: 2003
    Post Count: 9
    November 24, 2005 - 10:18 am

    Hi Guys,

    Sorry I being busy with uni and all that don’t have time to repiy. Now I got bit of time on my side I reply to your question.

    The reason to sell the two properties were…that both properties is about 70 odd years and everything start to fall apart so the maintenance is starting to eat into the profit. So the best thing to do is to sell it and use the profit to buy other property. Otherwise the repair cost will eventually be eating all profit in the deal.

    One comment on the return is that as an investion never look in the return on total value. Always look for the cash return. As that is the money you use out of your pocket. So I always look for the cash return since that is what we are trying ot do…add more cash to our pocket.

    And the comment on the little return, if I come into the deal with little of my own money I be happy with a 100% return. Don’t be greedy leave some profit for the next investor that come alone. If you squeeze to much eventually it will dry up and you end up losing. So therefore, I rather take a $10,000 dollar profit and use that $10,000 to make another $10,000 rather than wait for a bigger profit. To be wealthy is not how much you can make from the deal by how fast you able to create a profitable deal…!!!

    Good Luck Everyone,
    Dreamer[biggrin]

    Profile photo of Dreamer1Dreamer1
    Member
    @dreamer1
    Join Date: 2003
    Post Count: 9
    January 11, 2004 - 9:30 am

    Dear Mel,

    Just wanted to know how is your progress in developing your home into a duplex? If you already started on it, then good luck and hope you making $ on the sale. But if you haven’t done anything, I would advise you to look for more + “cashflow” properties to replace you income first. Since you got so much equity to play around with, find + “cashflow” properties is far more easier than developing….

    Beside, you can find more + “cashflow” properties and also finding rehab properties as well. Personally, I think rehab job is too hard and taken too much time that stop you from missing great deal during that time. But if you enjoy it and have experience rehab before than you would make good money if you analysis the whole deal carefully.

    Well, I wish you well…And one more thing…If I were to have $800K equity, I would use its to buy $4 million worth of property at 20% deposit. Let say each property cost $100k and each generate $25 + “cashflow” than total weekly income is $1000 perweek. Your just created $52K income per annual…How would you like that. That what I do anyway, but what you do I wish you the best of luck and good investing…

    Cheer[^]
    Dreamer

    P.S. Forgot to tell you that, I said “+cashflow” not + geared!!!!! Make sure every properties is “+ CASHFLOW”…

    Profile photo of Dreamer1Dreamer1
    Member
    @dreamer1
    Join Date: 2003
    Post Count: 9
    September 16, 2003 - 7:04 am

    Hi Pinky,

    I don’t know much myself and I am trying to learn more. Well, we can learn it together if you want. Here is my email address…[email protected]. Got any question that you want to ask just send it through and see if I can give you an answer or not.

    Cheer
    Dreamer[:0)]

    Profile photo of Dreamer1Dreamer1
    Member
    @dreamer1
    Join Date: 2003
    Post Count: 9
    September 16, 2003 - 7:01 am

    quote:

    Ive started reading the book and Ive come to a few conclusions.

    A. I spend way to much money. Its time to cut back on my semi naked male slaves….or have them wearing less. (Naked male slaves in winter….NOT A PRETTY SIGHT!! hahahaha)

    B. I am intelligent…Im just not very smart. God it hurts to admit that….but I will. I can be as blonde as the next person [:I]

    C. I KNOW I can do this…but I have little faith in my knowledge.

    D. I need to start somewhere…and this seems the perfect place.

    I have the money….I have employment…I have the desire….I have the book. Now all I need is a mentor.

    How do I find one of these? Someone that wont get bored talking about figures….and will take the time to explain the 11 second rule over and over until even I understand it! A person that understands the market and is willing to give a lot of advice and a little time to help me out. Someone with the balls to tell me what Im doing wrong…yet the patience to help me correct it.

    Anyone know a person like this that would like to take a fledgling under his or her wing…and teach it how to fly?

    Anyone?

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